Addison Advisors LLC Decreases Holdings in ConocoPhillips (NYSE:COP)

Addison Advisors LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,680 shares of the energy producer’s stock after selling 246 shares during the quarter. Addison Advisors LLC’s holdings in ConocoPhillips were worth $266,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP boosted its holdings in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on COP. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Stock Up 0.9 %

COP stock opened at $98.82 on Tuesday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $125.73 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.79 and a beta of 1.18. The company has a 50 day moving average of $100.09 and a two-hundred day moving average of $105.36.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Buying and Selling

In related news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.